Blogs

ZIM Strengthens Its Relationship with the Top Liners in the World With the onset of the new year, ZIM has extended its relationship with the top liner organizations in the world, MSC and Maersk. The CEO of the ZIM organization has agreed that it indeed is a milestone in the career graph of the Israel-based container line. Since a long time, ZIM has managed to survive in the maritime industry as a successful stand-alone carrier. During last year, ZIM had finally struck up an agreement with the two world-famous companies, namely MSC and Maersk, to finalize the 2M vessel sharing agreement that focusses on the Asia-US east coast trade lane. It has been recently discovered that ZIM also has plans to distribute a few of the 2M services further to the Asia- Mediterranean and the Asia- US West Coast trade lanes in the near future. In the region between Asia and the US West Coast, a vessel sharing string (called the TP9 service) will start its operations with 4 vessels being supplied by ZIM and the remaining 3 vessels will be controlled by the 2M. As per the reports, there will be no noticeable change in the present schedules of the TP8 and TP9 services. ZIM has also revealed plans of launching new ZIM-operated feeder lines that will reach out to the regional markets. It has been decided that the service changes will commence from the March of this year. Cosco Shipping Development Is Associated with the Sale and Leaseback of Four Boxships In a recent announcement, the Hong Kong-based Cosco Shipping Development has highlighted the sale and leaseback agreement of four boxships. The reason behind entering this arrangement is to expand the financing channels and make a provision for the necessary funding. A decision has been taken that the Cosco Shipping Development will be selling four container vessels with the help of its four single-vessel companies, such as the CSCL Bohai Sea Shipping Co., the CSCL Spring Shipping, the CSCL Summer Shipping and last but not the least, the CSCL Winter Shipping. Each of these single-vessel companies is included in the Hong Kong organization as an indirect but wholly-owned subsidiary. The company is planning to leaseback the four vessels from the subsidiaries of Financial Products Group (FPG). The total transaction price has been finalized as $267m by the Cosco Shipping Development. DP World Cochin Delivered a Brilliant Compound Annual Growth Rate of 13.57% The India Gateway Terminal Pvt. Ltd. (IGTPL), supervised by the DP World Cochin, has delivered a remarkable compound annual growth rate of 13.57% in the past 3 years. In fact, this has crossed the three-year CAGR of 11.41% that has been already registered at all ports in the country. Undoubtedly, it is a proud achievement for the first international transshipment terminal in the country that has managed to reach an annual throughput of more than 574,000 TEU in a single year. Moreover, the IGTPL has even achieved the highest monthly throughput of all time, which had been recorded to be more than 52,000 TEUs in March, 2018. The terminal is much appreciated for its constant efforts to ensure the implementation of smarter trade solutions to enable the delivery of exponential value to various stakeholders and clients. Also, the recent installation of the RFID-based automated gate management system has managed to drastically improve the truck turnaround time. The terminal has also employed a lot of modern techniques to align its operations and cooperate with various government initiatives to allow smooth, hassle-free transactions in business. Furthermore, the terminal has managed to gain the support of the customers in the hinterland of Kerala, Karnataka and Tamil Nadu, to ensure a much faster turnover of cargo. A New Truck Parking Area Has Been Developed at the Visakha Container Terminal The Visakha Container Terminal (VCT) CFS has constructed a new truck parking area to offer a seamless experience to the trucks visiting the area. The parking area has been built in 5,000 square meters by using the technology of Stone Soling, which will enable smooth parking for quite a lot of trucks while they are waiting for the completion of the documentation process. This new addition will definitely help in controlling the truck traffic, removing the congested situation and ensure that there is no inconvenience faced by the truck drivers. Turner Iceni Acquired Two New Boats Turner Iceni, the popular renewable energy vessel specialist from UK , has added two new vessels to its existing fleet, which are named as Don Quixote and MCS Maestro. The vessels are undergoing construction work at the moment and will commence their operations at the end of 2019. The MCS Maestro vessel is now being refitted with Volvo IPS 900 and will further be repainted in Turner Iceni livery. On the other hand, the Don Quixote vessel is being re-engined by using 1400hp MAN and Hamilton 651 jets that will include not only a jet anchor but also a new AVX control system. The interior of the boat will be completely revamped with a new galley and seating arrangement. The Director at Turner Iceni, Richard Thurlow, has commented that the company is pretty excited after acquiring the two boats and these will be of great use in the upcoming projects. Sources: https://splash247.com/zim-extends-relationship-with-msc-and-maersk-to-the-us-west-coast-and-the-mediterranean/ http://www.seatrade-maritime.com/news/asia/cosco-shipping-development-in-sale-and-leaseback-of-four-boxships.html http://www.maritimegateway.com/dp-world-cochin-registers-exponential-growth-2/ http://www.eximin.net/NewsDetails.aspx?name=40207 Want to know more news Around the World ? Stay tuned every Monday to ODeX and get the latest in shipping.